- Let's say the 7D has a one stop advantage while the newer K-5 and D7000 have a two stop advantage. The Zuiko zooms are generally about a stop faster than their APS-C equivalents. So, that gives the newest, state of the art cameras a one stop advantage and the 7D no advantage.
This isn't true at all - unless you are buying and comparing with SHG glass only for the most part. That can be fine but then you are forced to buy $1700-$2500 USD lenses. That's a big jump. And it's still not true for some primes.
Tony is right, and you don't even have to buy SHG to prove it. Comparing 4/3
HG zooms to the most comparable APS-C zooms, the 4/3 zooms are typically 2/3 to 1 1/3 stops faster (an average of 1 stop faster through the range, and an additional third of a stop faster on the long end where it counts the most)--where 4/3 HG lenses are f/2.8-3.5, APS-C lenses at similar prices tend to be f/3.5-5.6 (there are a few exceptions, like the Zuiko 12-60 f/2.8-4.0, Canon 17-85 f/4.0-5.6, and Nikon 18-70 f/3.5-4.5, but as a whole things tend to average out).
Downside is that Oly's SG zooms are f/3.5-5.6, f/4.0-5.6 or f/4.0-6.3, and the APS-C lenses are typically about the same, so APS-C does still have the 1 stop format advantage when it comes to the SG pricepoint.